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of supervisors file no. 121064 business and tax regulations, police codes, parking stations, revenue control equipment, licensing regulations, parking tax bonds, administrative citation process. you have a presentation by mr. greg kato, tax and treasurer's office and there kato is making the presentation at the request of supervisor campos' office. >> thank you, welcome >> thank you for your patience. >> thank you. good afternoon. the legislation before you today amends the business and tax regulations code with regard to enforcing the parking tax. our office would like to thank supervisor campos for carrying that legislation. this follows on the efforts of former supervisors mcgoldrick, dufty >> the parking tax is pretty significant tax for san francisco. it collects a little over $70 million a year in taxes. most of that is appropriated to the mta for transit programs, and so it's a very important tax. the legislation specifically amends how parking bonds are treated. parking bonds are required of operators to protect the city's interest and provide security for the taxes that the opera
, to look over the so-called fiscal cliff. some existing tax cuts will expire. that could slow the economy or even move it back into recession. up until now, republicans have been unwilling to consider raising taxes, something that democrats say has to change. >> as president eisenhower says, there will have to be compromises and seeking the middle of this rote isn't just acceptable, it's the only way forward. >> most republicans signed a pledge to never raise taxes, but gop law makers say that now they'll have to put that pledge aside for the good of the nation. >>> on wall street, the markets.finished mixed, nasdaq gained nine, apple leading the way up 8%. >>> shareholders. some analysts had suggested that investigators are underestimate's facebook's growth potential from ad revenue. the stock gained 8% today but is still well below its public offering price. six months ago, the company went public with an ipo price of $38 a share. >>> securities and exchange commission. walters who's a democrat serves as a democrat, she takes over for mary shapiro, shapiro leaves next month in the wake
norquist's anti-tax pledge. saying they're open to letting revenues rise if democrats do their part in the budget talks. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, and republicans should put revenue on the table. i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. for instance, if i were in congress in 1941, i would have signed the declaration of war against japan. we're not going to attack japan today. the world has changed, and the economic situation is different. >> so peter king is telling us, mike barnicle, not only is he going soft on taxes, he's going soft on japan. >> i know. >> it's not just peter king on the taxes. it's a big step, don't you think? >> it's a big step. >> grover. yeah, grover's taking a big hit since the election. there's no doubt about it. i think john, you'd verify this. number of republicans, i've talked to a couple of united states senators who
on the negotiating table. the white house warned that the uncertainty of potential tax hikes for middle-class taxpayers could hurt consumer confidence during the holiday shopping session. that could have a big effect on the economy. the washington post writes that the white house is ratcheting up pressure to avoid the fiscal cliff. on c-span tonight, we will bring you some of the house and senate debate from august of 2011, when congress passed the budget control act that triggered cuts to take effect on january 1. we will also hear from president obama, who signed the deficit reduction measure into law, part of the deal to raise the debt ceiling. first, senate majority leader harry reid and republican majority leader mitch mcconnell will talk on the senate floor about the january fiscal deadline. >> since our country voted to return president obama to the white house, i have spoken often about compromise. i remain optimistic that, when it comes to our economy, when it comes to protecting middle-class families from a whopping tax hike, republicans and democrats will be able to find comm
at this point. >> but when you look at those, they all have some come by neigh of spending cuts and tax increases. the idea is that over a period of time, you basically put the country in a better path, the government in a better path to spending and taxation. what you don't want is the fiscal cliff because that was designed to be something that nobody liked. and the reason is, yes, you've reduced the deficit from about 7% of gdp down to about 4% of gdp, so you move in the right direction really dramatically, but you do it in a way that nobody was happy with exactly where those cuts come from and exactly how the taxes increase. >> with what you're seeing, and we never know, it's almost like a mating dance where you've got the male and a feel of some species -- >> it's an ugly one. >> looks like they're never going to do it. they get closer and closer. >> but there is a lot of -- they back off and they might even look like they're fighting. but do they eventually, you know, do it? >> well, i think certainly everybody hopes so. because it would be better than if they don't. >> that didn't
republicans to put higher tax revenue from the wealthy on the table, democrats are scoffing. he they talked happy talk about are skofg.t we only have a auple of weeks to get something ouple of we have to get away from the happy talk and start talking aout specific things. dent obama hasbama has no new witht talks scheduled with congressional leaders but will cong phila suburban philadelphia aiday to press for an immediate bushto extend bush era tax cuts for m ers.blicans call that agningless electioneering. >> we congratulate him on his re-election. we don't know if he has enough todership qualities to push democrats. >> cost savings to health care aregrams like medicare and medicaid. everyry dollar that's ever been secured for anything is sacred. to they'll defend it to the wath, regardless of what it means for jobs or the economy. > a tough white house ally, nglinois senator dick durbin argued against using fiscal cliff pressures to scale back paidare and medicaid benefits. >> these are people that have paid in over a lifetime into protectecurity and medicare and fully expect the protecti
more than $500 billion in automatic spending cuts and tax hikes from taking effect. a potentially big sticking point in those talks, that no new tax pledge of that more than 250 republican lawmakers have signed. athena jones us from the white house. two more republicans who signed the pledge said they would be open to tax hikes if they get other concessions. >> reporter: that's right, fredricka, and this is a bit interesting to see. they're talking about this pledge from the grover norquist group. he's the anti-tax crusader. his group has gotten the majority of republicans in congress to sign this pledge to oppose any effort to raise taxes in any way. so first we heard from a senator out of georgia, a republican, who said for his country he would break this pledge because if you stick to that pledge you won't be able to reach an agreement to bring down the debt. today we heard from south carolina republican senator lindsey graham and also from new york congressman peter king responding to this idea and jumping on the bandwagon with chandliss. let's listen to that. >> when you're $16 t
the company private. the stock is down almost 60%. make no mistake, higher taxes are coming but the patriotic millionaires are ok with paying more taxes. last week on "varney and company" we confronted one of those millionaires. keith fitzgerald is after the break. we get his reaction to this. >> did you inherit wealth? >> yes i have inherited wealth but i have also made money on my own. stuart: when you inherited wealth. what about the rest of us who were strivers? [talking over each other] want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of qualittime and personal attention. which is why we are proud to partner wi health care professionals who understand the difference that ality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicar
into afternoons. i'll have the accu-weather forecast coming up shortly. >> later tonight, death, taxes. well, pardon me, holiday shoppers last minute frenzy at supermarket chaotic because of a power shortage. >> then, that story on death ask taxes what you can do to avoid turning over half of your childrens inheritance to the government. >> here tonight abc 7 news obtains footage from a deep sea expedition to protect >>> the port of oakland was a zoo today, truckers and shippers trying to catch up on the backlog. explains that back up lasted most of the day. big rig gridlock with thousands of truckers waiting to pick up or drop off what they could not yesterday because of the fdiu strike. >> how did yesterday's strike affect you? >> bad, really bad. you know?>s long lines and port there. they were closed and yeah. you know? we need to work to make money for living you know? >> the union representing 200 maintenance workers blocked entrarnss yesterday effectively shutting it down. he says he was stuck in traffic just getting off the freeway for a half hour this morning taking a hit with yeste
as a 30 million credit. the ability to bond against future property tax is a large chunk of money that could be put towards the reimbursing for those infrastructure costs. what the framework anticipates another source of credit in it a lump-sum early to create net present value of what a 66-year lease is and apply toward the expenditures. what i think is important to understand is 120 is a cap. it is a cap that if those expenditures are not met, if they are not needed in order to rehabilitate the substructure, there could be an excess of value in the three buckets, in which kay they would not be exhausted but our goal is to have repayment as quickly as possible. >> thank you. >> some of the -- >> i have a question. >> are you finished answering the question? >> i am. >> we do have another question. supervisor kim? >> thank you. i have a couple questions regarding the buckets. the questions are how to lower impact of 13% interest rate which has created a lot of interest among the members of the public. it is clear the sale price of the seawall can be paid up front. with property ta
. >> the fiscal cliff sparks talks of compromise on capitol hill. >> without a deal spending consults and tax increases will kick in at year's end likely sending the country into another recession. >>> several republicans back away from a tax increase. >> if congress does nothing, which congress has gotten pretty good at doing these days we'll go over the fiscal cliff. >> we have to show the world we're adults. the election's over. president obama won. >>> it's a big weekend for shopping. it isn't over yet. today is cyber monday. the biggest day for online sales. >> shoppers are expected to spend $1 billion 1/2 today. >> and some like to shop in bunny slippers. >> and fret mohammed morsi granting himself extra powers. >> sending the country's stock market into free fall. >> buy a ticket for this wednesday's powerball lottery, you could win in the megaball. >> bradshaw with the touchdown. >> giants tommenate. >> officially a time-out. >> cheerleaders shave their head to support the coach diagnosed with leukemia. >> and all that matters -- >> suddenly changes into
. and republicans could back away from oath they made on raising taxes, colin kaepernick made the start today. >> after a wonderful weekend, mild temperatures, the storm door opens by mid-week and we're talking a series of storms with wind and rain what are you doing there? i am making crescent bacon cheddar pinwheels. wow, i'm impressed! [ ding ] dad, the cable's out! you got that right? [ kiss ] thank you ♪ [ male announcer ] pillsbury crescents. let the making begin. here's a better idea. pillsbury grands! flaky layers biscuits in just 15 minutes the light delicate layers add a layer of warmth to your next dinner. pillsbury grands biscuits let the making begin. >> ama: republicans are considering raising taxes to reserve is the fiscal cliff. it's a big change for those who swore an oath they would never raise taxes. david curly tells us why they are working on the change. >> with some of the holiday shopping done, president obama may be getting a gift from some republicans. republicans who signed a pledge never to raise taxes. this morning, a leading senator. >> i will violate the pledge
, opportunity fund. excuse me. but just know that our office, we are in city hall in the tax and treasurer's office, and our office is we have some information on that. if you did not get one of our small business booklets and you want one, please take my card, e-mail me, and we will mail you one as well. immigrate. thank you, regina. for those of you looking to contact these organizations, you can find their contact information in the program you should have picked up when you sign in. for those of you who are prospective entrepreneurs, if we could limit the acronyms and talk more about what those acronyms mean. >> sounds good. thanks, mark, virginia, and leader pelosi for putting on this event, and for all that she has done -- thanks mark, regina , and later pelosi. we have been able to access resources through the sba and the cdfi fund which helps get money to small businesses in this time of need. opportunity fund is not a bank or a government agency. we are an independent nonprofit organization with a mission to provide capital to working people to help them earn, s
revenue is expected toin crease, 6.7 to 5.5 percent. that converts into hotel tax into the city's general fund. the occupantcy will grow to 86 percent when the expansion grows. >> the projected occupantcy of the rooms? >> since the rooms is where it comes from, we have to say that the hotel will benefit from the assessment. >> where is it at? >> 1.5 percent. >> what is the occupantcy? >> it is about 80 percent this year. >> 79, 80 percent, thank you. >> excuse me, office of economic and workforce development. i wanted to go over the approval process, this is for the district which is proposed to fund, you know, over two-thirds of the projects, regarding the moscone expansion, but in addition, the district wants to fund a few other things which i will go into in a minute. a few junctions where there will be a few processes for the approved project. today, we have submitted petitions, actually, they have gone up to 53.97 percent weighted in support of forming the proposed mascone expansion and today is the resolution of intention that you are considering. and after if this was approved, at
. >>> tax time is still a few months away but there are already changes coming along that could force people in the bay area to pay more. cbs 5 political reporter grace lee takes a look at how changes to the tax laws will impact you. >> reporter: tax changes are adding up and it could cost you a lot. governor brown's proposition 30 raised state income tax on those with a taxable income of $250,000 or more to pay for schools and universities. what you might not know is that it's retroactive meaning if you fall in that bracket, the bill is due this coming april. >> i think there's going to be a few people who will be surprised but there was really nothing you could do plan for it. the election determined whether or not this was going to happen. >> reporter: accountants say for a married couple making $250,000 and filing separately it will cost you about $250. it's not a huge bill but in the bay area where real estate is higher and the cost of living is greater, for most households, disposable income is smaller and every dollar counts. >> this is the type of thing that affects us here. yeah. th
feasibility report used pay roll tax. we will have gross receipts tax by the time arena is completed. the number has been adjust someday what to account for gross receipts tax. the annual unrestricted general fund is $12 million. dedicated or restricted is additional $5.2 million. one-time revenues will be over 50 million for various impact fees. gross receipts and transfer tax from sale of seawall lot 330. >> can i ask in terms of annual general fund revenue, the 12 million you show on slide 13 that shows property tax funding that would come in, is this net of the proposed isd or -- >> it is not. thank you for pointing that out. what you have to assume is the first 30 years that five million should be taken off the annual general fund revenues because that would be dedicated to repaying the isd. that would be issued in order to repay the warriors for the substructure costs. >> thanks. >> thank you for that. >> so the one-time revenues include the jobs housing linkage, housing, child care, impact and ease -- east sea, that is all include thered that number. economic benefits includ
different. than most of those in the past. sales tax, since september 15th of the year, many retailers have been charging sales tax on internet purchases sold to those who live in california that. is when our stubp' law went into affect requiring them to start charging sales tax. >> if a retailer doesn't pay tax, then they have advantage over guys trying to make a living in the state of california. >> not all merchants are collecting the tax on the smaller companies saying federal law exerp yefrts them. citizens required to pay at the time of purchase or to keep track of how much money spent online, then pay a use tax on state income tax form. it's highly unlikely to do that if you buy a big screen tv they're going to be looking out for you. >> thank you. >> sure. >> we're expecting some major changes in weather. >> yes. >> sandhya patel is here to tell whaus is in store. >> we're looking at strong winds, heavy rain. this is a live look out towards the bay we do have high clouds moving through. we have fog west. it will be dense again. there is a beautiful view of the moon over lake tahoe.
searched an today for cyber monday: . >> california began taxes on- line sales this year, but at 5:30, why the state may be missing out on millions of dollars because of how that law was written. >>> a new crackdown on internet counterfeiters. 132 international websites were shut down today. >> jaymee: c.e. said they were -- ice said that count fitters send shabby merchandise, or often fail to fill the order at all. >> organized criminals looking to take advantage of unsuspecting consumers to make a quick buck. >> congress returned today from its thanksgiving break with the country still headed toward that fiscal cliff. republicans are pressing the white house for a list of long- term spending cuts. democrats still want to raise income taxes on the rich. so far there is little outward signs the two sides are are closer to heading off the automatic tax increases and spending cuts economists have said could push the economy into another recession. the dow dropped 42 points today. the nasdaq was up by 9. the s&p closed by by 2. >>> a carbon monoxide scare that sent four people to the hospita
to be seen. but then that will require some other tax. that would be my big request like everybody else. get america's finances under control and that will take both parties. it will take taxes and it will take reduction in commitments that have been made. it now can be validated. let's get this but do it in a way that exacerbates the uncertain economy. the second -- we have to happen through innovation. whether it is the space program or tax credits for renewable energy. all that is important. we have to keep that going. that will get hard because we will face is demographics. that is my 74th birthday on april 7. i am aware of the and aging population which i have become and we are an aging population relative to what we were. luckily, we have millions of fresh arrivals that are younger and are energetic and they come from all over the world. we have to make sure our education system lifts them to their highest aspirations. when the society ages, it tends to -- it declines. that is the big demographic imperative. i was reviewing one of my favorite books on the roman republic. how did this v
, marla. we have just heard from the city tax collector's of bureau of revenue. they are filing this legal action. they confirm the city is going to go after the los angeles dodgers for reimbursement in the treatment of bryan stow. the giants fan who was severely beaten outside of a dodgers game. to help pay for the four months of care it treated stow's injury. the city attorneys have asked a bankruptcy judge to add san francisco to those seeking damage from the team's insurer. this is a bankruptcy issue because the team filed chapter 11. this was a controversy. the city says this is not unusual, but standard practice to go after unpaid bills. it is taking all steps to protect the city's interests. stow and his family is suing the team frin the amount of $50 million. the amount needed for a lifetime of care. reporting live outside san francisco city hall, bob redell, nbc bay area news. >>> now to the south bay. citizens will have a say on who will be the next san jose police chief. city leaders will hold a community meeting tonight to gather input from neighborhoods on what they want to se
. following up to that, can you give any advice on particular resources that would speak perhaps to any tax benefits, subsidies in place for both domestic distribution of wine, as well as exports? >> why don't we take it off line. i think what is the case, there is a lot of complexity to the incentives that were put into the jobs act for small businesses to take advantage of on expensing equipment, investments and their businesses, as far as the tax treatment of those activities. obviously, as a small-business person, each of you needs to understand, it is complex, but there are a lot of tax incentives and investment in business that you should take aware -- advantage of. >> we have two questions in the back. just to be mindful for everyone's time, we will go for about five more minutes. >> my name is david. i am an internet or entrepreneurs. in general, to the lenders, what type of vanity do you traditionally see approach you for loans, an llc, corp., and who is liable, for whose borrowing the money? >> as a micro lender, we expect the principles, the corporate form, to provide guarantees.
, they still oppose the president's idea to raise taxes on the wealthy. instead, republican leaders want to limit tax deductions and loopholes without an agreement. across-the-board tax hikes will take effect on january 1 without an agreement. here's a breakdown of what would happen. for households earning 20 to $40,000, the tax increase would be $1,200. for householder, 40 to $64,000, the tax hike would be $2,000. and with those incomes of $64,000 up to 6 figures, it would be a $3,500 tax increase. >>> it's not all dire economic news. retailers are still looking for workers this holiday season. why that's encouraging news for businesses. >>> and some amazing video from a jewelry store. a toddler leaves justifies before a car crashes in. ,,,,,,,,,,,,,,,, steady improvement in hiring. but wall street isn't too . as >>> consumer confidence is at its highest level in almost 5 years boosted by a steady improvement in hiring but wall street isn't too impressed by the numbers as stocks are down for the day. you can see right now, the dow is down 58. >>> even though we're in the middle of the h
the fiscal cliff. if there's no action by the new year some existing tax cuts will be filed. but finding consensus between republicans and democrats will not be easy. >> as president eisenhower said there will have to be compromises. and seeking compromises is the only way forward. >> some gop lawmakers now say they'll have to put the pledge aside for the good of the country. >>> on wall street the markets remained fixed. the dow dropped 42 points, the nasdaq gained nine. >> tonight at 10:30, the jitters the fiscal cliff is causing on wall street and how some investors are deciding to take action now and not wait. >>> the bay area's storm door is about to swing wide open. the first in the series of wet weather is due to arrive tomorrow morning. we start in the weather center with chief meteorologist bill martin. bill. >> julie, a series of storms set to affect the bay area not that atypical for this time of year. but it is going to be a wet weather pattern that is going to take us into early next week. look at the activity in the pacific, it's massive. look at what happens when we -- we
existing tax cuts will be filed. but finding consensus between republicans and democrats will not be easy. >> as president eisenhower said there will have to be compromises. and seeking compromises is the only way forward. >> some gop lawmakers now say they'll have to put the pledge aside for the good of the country. >>> on wall street the markets remained fixed. the dow dropped 42 points, the nasdaq gained nine. >> tonight at 10:30, the jitters the fiscal cliff is causing on wall street and how some investors are deciding to take action now and not wait. >>> the bay area's storm door is about to swing wide open. the first in the series of wet weather is due to arrive tomorrow morning. we start in the weather center with chief meteorologist bill martin. bill. >> julie, a series of storms set to affect the bay area not that atypical for this time of year. but it is going to be a wet weather pattern that is going to take us into early next week. look at the activity in the pacific, it's massive. look at what happens when we -- we're going to hawaii. this is streaming from the very low lati
in the bay area to py more. >>> tax time is still a few months away. but there are already changes coming that could force people in the bay area to pay more. cbs 5 political reporter grace lee takes a look at how changes in the tax laws will impact us all. >> reporter: hopefully no indigestion. the bay area is one of the most vulnerable regions to changing taxes and the reason for that is our cost of living is higher and that means prop 30 could affect a larger number of households here. the bigger problem is looming in the federal tax code and it could cost middle class families thousands of dollars. tax changes are adding up and it could cost you a lot. >> we got to make sure we do it right. >> reporter: governor brown's proposition 30 raised state income tax on those with a taxable income of $250,000 or more to pay for schools and universities. what you might not know is it's retroactive meaning if you fall in that bracket the bill is due this coming april. >> there's going to be a few people who will be surprised but there was really nothing that you could to plan for it. it was, yo
property tax revenue generate bid the yards your's development on both locations through creation of infrastructure financing district, estimated to yield about 5.8 million a year. >> to clarify the sales price is not per year, it is one time. >> one-time. the estimated total value of an infrastructure financing district, the amount that we could bond against for future property tax revenue off these two is approximately estimated to be 50 million. these values were determined by an appraisal that was conducted by the department of real estate with instructions provided by the city and port. there is then -- >> just one second. jennifer, we do have a few questions. supervisor a loss. >> thank you, chair chu. feeling a need to kick the tires a little bit. but looking at my notes here, when we had america's cup before us. >> yep. >> there was a discussion about seawall lot 330, that being a portion to use to help subsidize development, at that time the seawall lot 330 was assessed at 33million, now 30 million. how are we at the difference? we have seen property values increase gener
leadership. they expressed optimism about reaching a deal to avoid a 500 and dollars in tax increases and spending cuts. 500 bill in dollars for tax increases. >> we have a very productive meeting. >> the cornerstone of being able to work something out. >> staffers have been working behind the scenes to find common ground and how to begin more tax revenue and reduced spending on programs like medicare. it is not yet clear one of lawmakers will meet next. even if progress is made this week a final deal could still be make well. >> we rarely see the hill and the white house making decisions, early. they tend to do better when they have a deadline. so, i think that i would be pleasantly surprised if a deal emerged earlier. but, we will see. >> unless compromised is reached, steep tax hikes could be seen. >> this small earthquakes >> the u.s. t s a said the magnitude 3.5 tremor hit at about 7:45 near soledad.. 60 mi. southeast. no reports of damages. >> the day after thanksgiving >> they see a lot of potato peels, putting things down the disposal of the probably should not go down. we ar
that pushed that no new taxes pledge signed bay majority of republicans in congress. here's what chambliss says. i care more about my country than i do a 20-year-old pledge. he's willing to let the political consequences take care of themselves. raising taxes has been at the center of the fiscal cliff dispute. democrats demanding it. republicans saying no way. so amy, is this a sizable crack in the republican armor? >> we are seeing that the two sides are going to need to negotiate if we don't go over the fiscal cliff. i would point out that patty murray, a democratic senator from washington state says we should go over it, certainly in contrast to the rest of her party. so i think that we're seeing negotiations on both sides. but i want to point out what the fiscal cliff really means. it means the tax rates go up for everyone across the board. if you earn a paycheck, your taxes are going up. that's not just your federal income tax. that's your social security tax as well. we've been on a social security tax holiday, people are unaware of this, only as employees paying in 2.4%. after decem
are before us. tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican, is to get the american economy going. to put it back in gear. and there are many reasons beyond just employment and the opportunities that family have -- families have to make it. one of the critical elements in all of this is to protect americans. we recently saw superstorm san joaquin smash into -- sandy smash into new jersey and new york with devastating results. loss of life, incredible loss of property, both public and private, and a very, very big cleanup bill. joining me in a little while will be some of our representatives from the state of new york. and they'll talk about that in detail. but before sandy ever hit the co
. jessica? >> thank you, scott. all the online shopping means big bucks thanks to a new sales tax on internet purchases. this cyber monday is expected to bring in tens of millions of dollars. that went into effect december 15th. the purpose is to require retailers to charge customers online the moment they buy something. usually when they pay their income taxes. so far california officials have only managed to identify a few retailers as being subject to the new law, though. >> if you're an out of state retailer and you collect more than a million dollars in sales in california, and you have at least $10,000 worth of referrals from instate retailers, then you're obligated to pay that tax. >> did you get that? by 201614 states will collect sales tax from online purchases. >>> a hoax made the rounds today involving google and a company it didn't buy. they claimed they bought another company. they apparently bought the company for $400 million. both companies insist there's no such deal. no one has been able to track the source. they are not worth nearly the $400 million that the fak
businesses also contribute to 52% of the total sales of taxes paid by businesses in the city. it's also important to note for every $100 spent locally owned independent businesses generate $68 iní%( z5 local economic act, and that compares to only $43 by the national chains or chain stores. joining the small business commission, office of small business, and our local partners, women impacting public policy, the san francisco chamber of commerce and sf travel, i wanted to urge everyone to shop locally during this holiday season. and we wish everyone a great and your holiday with your family friends and loved ones. i also wanted to invite people out on thursday, december 6, that's thursday, december 6, in the evening for our annual clementine, join the merchants from the green apple bookstore to park lifee÷jc- gallery and fy notions small businesses like foggy notion as we celebrate the holidays with our great clement street businesses. thank you. >> clerk calvillo: thank you. president chiu. >> president chiu: first of all i'd like to adjourn today's meeting in recognition of the pass
if there is no tax deal by the end of the year, members have until january to work out an agreement with the president on what to do cuts. the white house says if taxes expire the u.s. could be sent back into a recession suggesting concerns -- americans could cut back on holiday spending in next no mo as well. this news sent stocks dropping. the reason it's not completed, democrats want to eliminate tax cuts for americans earning 250,000 tsdzs a year, republicans are against it. >> the world changed. >> i will violate the pledge for the gft country. only if democrats will do entitlement reform. >> there are no new meetings society up to the cut. >> billionaire warren buffet÷e g is again calling for higher taxes on the ultrarich and urging congress to compromise. he is urging support for a tax ñ million and $30 million and mocks idea investors would pull back if capitol gains taxes increase saying he's never seen that happen. any tax increase would be expensive for buffet. ed to be the world's third richest man. >> if early returns are an indication, online research firm says sales
billion in tax hikes and spending cuts that will kick in. both sides say they're looking for ways to compromise. >> that's what it's about, if regan and o'neill can do it, obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key is whether or not the republicans will move away from the id logically rigid tradition which was the grove pledge that they will not go for additional revenue. >> reporter: for the first time the antitax pledge seems to be negotiable. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid the coming grief and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes. >> i would be very much opposed to raising tax rates, but i believe we can close a lot of loopholes. >> reporter: and democrats say just closing loopholes and cutting deductions isn't enough. >> we have to raise additional revenues and tax rates on the wealthy. >> reporter: in any deal, republicans insist on big cuts to e
to show some political courage to prevent tax increases and spending cuts from taking effect january 1st. >> there's a menu of options on the revenue side and on the entitlement side, and while there are two parties, they are willing to solve this problem, this is a very easy thing to do technically. >> reporter: republicans are hinting they may be open to a compromise that raises revenue but many are still firm they won't let bush-era tax cuts expire for the wealthiest americans. >> i would be very much opposed to raising tax rates but i do believe we can close a lot of loop holes. >> reporter: democrats say just closing loop holes and limiting deductions is not enough to make a dent in the nation's $16 trillion deficit. >> you've got to raise additional revenues, including tax rates on the wealthy. those have to go up. they have to go up. >> reporter: but many republicans believe the best way to close the gap is reform entitlement programs like social security and medicare. democrats aren't on board yet. >> my concern about raising that medicare retirement age is there will be gaps
from a new sales tax law, but as we found out, not everyone is paying like they should. the so-called amazon tax affects and some of the largest on-line retailers, but only about 200 businesses have been identified so far by the state. the state says if you don't pay sales tax on-line, then you must file on your personal state taxes, which few people do. >> you're not off the hook, and you haven't been off the hook since 1935. >> so far the state has collected less than $20 million from the on-line retailer tax. >>> facebook is about to ask users to vote on a plan that would end up taking away the right to vote in the future. the social networking giant says it will seek out comments about revokes users right to vote on some changes to facebook privacy policies. one change would impact the data use policy, which explains how the site collects and uses data, and the statement of rights and responsibilities, which explains the terms governing their use of our services. >>> a new poll suggests that contra costa county is turning more democratic. a. >> duane: study found 60% voted
a tax increase of 1,200-dollars. for a household airporting 40 to 60 it would mean a tax increase of $2,000. 64,000 up to six figures it would be a 3,500-dollar tax increase. it appears the tax deal is being worked out by two people. house speaker john baner and the president. it's expected to be a mix of revenue increases. probably a small tax hike on the wealthiest americans and spending cuts. of course any deal has to pass the republican controlled house. >>> shoppers don't appear to be too worried about the fiscal cliff. this is shaping up to be the best cyber monday ever. sales are up 28 percent from last year. cbs reporter anthony mason found out the last few days have been busy. even during dinner time. >>>'s biggest shipping center in phoenix arizona is the size of 28 football fields. last cyber monday it's busyist day of the year, amazon processed 200 orders per second. amazon vice president craig says the company expects business this year will be even better. >> we've hired and are continuing to hire 50,000 seasonal workers to meet customer demand. we need to come
republicans may be willing to back off an old pledge not to raise taxes. this is ahead of trying to avoid the fiscal cliff. we have tracie potts with details from washington. >> reporter: today, president obama meets with small business leaders. a new white house economic report warns if tax breaks go away, the average middle class family will owe uncle sam $2,200 next year. >> middle class families should see an extension of the tax cuts. >> reporter: some republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we have been open to revenue by closing loopholes as long as it is tied to spending cuts and pro-growth tax reform that broadens base. >> you don't raise rates. you cap the amounts of eitemize deductions. >> reporter: america is borrowing too much money trying to keep social security and medicare afloat. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> this congress is already one vote away from avoiding the fiscal cliff. >> reporter: and no word yet on when the nex
" reports this morning that a budget deal could reduce the tax deduction millions pay on their mortgage interest. nancy cordes is on capitol hill. good morning. >> reporter: good morning to you, charlie, and norah. the president and house speaker john boehner spoke by phone over the weekend. top aides in the house and senate tell us that negotiations at this point are just taking place between the president's staff and speaker boehner's staff. that's because any deal that involves raising tax revenue is going to face its biggest challenge in the republican-led house. top republicans returning from thanksgiving recess urged the president to make the first offer in fiscal cliff negotiations. and they expressed a new openness to raising tax revenue, if democrats agree to make cuts to strengthen medicare and medicaid. >> elections come and go. and when they go the spirit to find common ground becomes greater. >> reporter: georgia republican saxby chambliss and mark warner lead the gang of eight. four senate democrats and four senate republicans, who originally met
that counters discriminatory federal tax policy and to provide a higher level of equalitytj( xrñ for sax spouses an partners who work for the city and county of san francisco. i'd like to thank cosponsors, campos and wiener. current city employees who would likemzjpkn to add their spouse r is taken out of their paycheck. federal government views health coverage by same sex spouses and domestidomestic -- to be taxable income. therefore they're taxed more than other city employees simply because their spouse or partners of the same gender. this discrimination in our federal tax code has cost same-sex partners thousands of dollars each year. as of july 28 of this year the latest data we have, the number of city and county of san francisco active members with same-sex domestic partners total over 350. san francisco has always been a leader in supporting our lgbt community and i'm proud to stand with that group. following the example of other municipalities such as cambridge, massachusetts and private employers such as google in the bay area who have shown leadership on this issue and stood with our
government, ok. this is tax incentives. you have to have tax liability. you have to pay taxes to make this thing valuable to you, but most people do. the law is written at 30% of the cost you can have a tax credit of 30%. let's talk about real numbers. what am i paying now and what am i going to be paying in the future? if i can make money today on my monthly payment and go green, why not? solar kind of reverses the effect. it's like tax brackets. the return on investment typically is higher if you got a big bill. there is also another thing about time of use rates. i want to go over it very briefly. it does have some effect and you will hear it about on your bid. the time of use rate is a way that you tilts are trying to help -- utilities are trying to manage their peak demand. you charge people more during peak periods. you make it up to them by charging the low market rate off peak. this is off peak and you'll be charged a very low rate for it. at shoulder peak you'll be charged more. at on peak, you'll be charged the most, another shoulder, another off peak. so what happens is tha
giant number on the horizon. the one facing washington. the cuts that will kick in and the taxes that will go up if they don't come up with a deal to avoid a fiscal cliff at the end of the year. and tonight, what could be a turning point. some republicans saying they are now willing to break that pledge of no new taxes. david kerley at the white house tonight. >> reporter: with some shopping done, president obama may be getting a gift from some republicans, republicans who signed a pledge never to raise taxes. this morning on abc news, a leading senator. >> i will violate the pledge. long shory short, for the good of the country if democrats will do entitlement reform. >> reporter: and pete chambliss says he will not abide by the pledge. support from a vocal house member too. >> i agree. a pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed and the economic system is different. >> reporter: they are talking about that man's pledge, americans for tax reform president grover norquist who has hundreds of republicans signed. >> do you feel you are
that it is important that congress extends the middle class tax cuts without delay, without drama. and it is because it will help to maintain the increase in the consumer confidence that we have seen. >> reporter: both sides say they are ready to compromise to avoid the nearly $600 billion in tax hikes and mandatory spending cuts, scheduled to kick in on january 1. but the taxes, they remain the sticking point. republicans and congress, they have been long opposed to any tax increases, but the gop lawmakers say that they are open to raising more revenues through the tax reforms. wyoming republican says that entitlement reform will also need to be a part of the solution. >> medicare and social security, they are the two big title waves that are coming at us in terms of the spending. >> reporter: the gop leaders say they will need the democrats to give more in order to cut a deal. >> it is time for the president to present a plan that rises above these wreckless and radical voices on the hard left. >> reporter: the report from the white house economists, they say that the middle class families will
for states because, of course, you have to pay taxes on any of your winnings. so with the lot he commission increasing the price was generate revenue. they did and wow they will with this jackpot of $500 million. >> alison, did you buy a ticket? >> reporter: oh, no, i have no problem admitting it. i will go ahead and buy a few tickets of my own. >> good luck to you. thank you. we'll talk to you soon. >>> the other big story this morning, if at once you don't succeed, try, try again. susan rice, the u.n. ambassador returns for a second round of meeting with republican senators. rice failed to win over her sharpest gop critics yesterday still troubled about her comments following the u.s. attack in the u.s. consulate in benghazi that spring from a protest. she told "ac 360" that rice misled the american public. >> she would say that. she would have to say that because she began our meeting today admitting the representations of the video and the protests were wrong. and the impression left the american people misleading. >> senators graham and mccain are now more concerned than before they me
. there are no taxes in glenn becky becky stan stan. there are no roads police, no teachers hospitals libraries garbage pickup or sewage treatment in glenn becky gecky stan. you'll feel like our founding fathers as you fend off wild animals and your fellow tea baggers when provisions run low and the survivalist training kicks in. >> get off my land. >> who needs government! it's overrated. join us in glenn becky becky becky stan stan. we have freedoms with none of the responsibilities. want to shoot your gun in any direction? go ahead. want to lock your wife and children in the basement? nobody's asking questions. remember, freedom isn't free but with a small downpayment it can be yours. >> glenn becky becky becky stan stan. >> our future is in the past. >> stephanie: thank you, boys. oh, by the way, ron paul, i hope he runs again. any room in the clown car next time. he said the secession petitions raise a lot of worthwhile questions. uh-huh. he is pleased -- argument pushing back -- >> are you nuts? >> he pushes b
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